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This is terrible...however, I can't help but think about how much better off she would have been had she purchased the house instead of renting it for 66 years!
She's probably always been paying much below market rates. I bet she would have never been able to boy the home because it's in an expensive area. If they are paying $450 each 66 years ago she would have been paying less than $75 or less and split in 2 if she lived with someone then.
Honestly, I can understand both sides of this. The current landlord is the widower of the GRANDDAUGHTER of the original landlord. He may not want to be a landlord at all. Plus, he says the trust expires in July, and it is a lot of legal work and expense to set up a new trust to transfer the properties into.
When my parents pass away, I expect I will inherit multiple rental properties, as they own quite a few. I have no interest in being a landlord myself, so I will definitely sell the properties. I will feel bad if some of the tenants don't want to move, but not bad enough to keep the properties that I don't want to own.
Secondly, if I was going to rent a house, I sure wouldn't want to rent it out at 28% of current rent value. To expect any landlord to do that is just a sense of entitlement.
So I would feel bad for the women, but they wouldn't stop me from selling the house if I were in this position. I was going to say I would probably give them some money to move, but by only charging them 28% of rent value, the landlord has been "giving them money" for decades. I still might, but that would be a factor.
Great points!
As a renter I would never expect the landlord to guarantee me housing for life, even if the words were spoken, there is no way that can be guaranteed unless you buy the house.
Although the situation is very sad for the renters, hopefully the community will rally around these women by helping them find a new place to live.
On the other hand, those who profit on the backs and misfortune (and outright stealing from) others ... see that all the time.
Hell, that's celebrated by many in America.
Which one do you think was "stealing" in this scenario?
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